Waaree Energies Limited has submitted its quarterly compliance certificate to stock exchanges, confirming that the company maintains 100% dematerialized share holdings for the quarter ended March 31, 2026. The filing demonstrates continued adherence to SEBI regulatory requirements and modern digital share management practices.

Regulatory Compliance Certificate

The company filed the mandatory certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 with both BSE Limited and National Stock Exchange of India Limited on April 02, 2026. The regulation requires companies to report on the status of share dematerialization and any rematerialization requests received during the quarter.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The registrar provided official confirmation that no rematerialization requests were received from any company members during the quarter ended March 31, 2026.

The registrar's certificate, signed by Senior Vice President – Corporate Registry Ashok Shetty, validates that the entire holding of Waaree Energies shares remains in dematerialized form. This status indicates strong investor confidence in digital share holding mechanisms and efficient share transfer processes.

Corporate Governance

Company Secretary and Compliance Officer Rajesh Ghanshyam Gaur signed the compliance certificate on behalf of Waaree Energies Limited. The filing reflects the company's commitment to maintaining transparent corporate governance practices and timely regulatory compliance.

The compliance information has been made available on the company's official website at www.waaree.com , ensuring transparency and accessibility for stakeholders. This quarterly filing represents standard regulatory practice for listed companies to maintain investor confidence and regulatory compliance.

Waaree Energies Limited has announced significant developments in its GST assessment proceedings, revealing both favorable appellate outcomes and new assessment challenges. The solar energy company disclosed these updates in compliance with regulatory requirements on April 01, 2026.

Appellate Relief for Earlier Assessments

The company achieved substantial relief through appellate proceedings for financial years 2017-18 and 2018-19. The Joint Commissioner of State Tax, IV Bandra, Mumbai, acting as the Appellate Authority, significantly reduced the GST demands following the company's appeal against audit findings.

The appellate authority upheld the GST demand raised during the audit but provided substantial relief by reducing the total demand by over 96%, from approximately ₹13 crore to less than ₹50 lakh.

New Assessment Order for FY20

Simultaneously, the Assistant Commissioner of State Tax, Maharashtra, issued a fresh assessment order under Section 74 of the Central Goods and Services Tax Act, 2017, and the Maharashtra Goods & Services Tax Act, 2017. This new assessment covers the tax period from April 2019 to March 2020.

Nature of Violations

The assessment proceedings revealed specific compliance issues:

• Earlier Assessments (2017-19): The appellate authority upheld GST demands raised during audit proceedings for the respective financial years
• New Assessment (2019-20): Investigation findings indicated the company had availed ineligible Input Tax Credit (ITC) and failed to carry out proper cross-charging of common Input Tax Credit

Company's Response and Impact

Waaree Energies has stated that these developments will not impact its financial position, operations, or other business activities. The company emphasized its commitment to addressing these matters through appropriate legal channels.

For the appellate relief cases, the company is evaluating next steps, while for the new assessment order, it plans to file an appeal before the appropriate authority. The company received intimation of both developments on April 01, 2026, at 10:23 A.M. (IST).

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's commitment to transparent communication with stakeholders regarding material developments.